NEW YORK--(BUSINESS WIRE)--Avista Capital Partners, a leading private equity firm, and Ontario
Teachers’ Pension Plan, through its private investor department,
Teachers’ Private Capital, announced today that they have signed an
agreement to acquire INC Research, Inc. from an investor group led by
Crosspoint® Venture Partners and Adams Street Partners. INC
Research is a privately-held, therapeutically focused global contract
research organization with deep expertise in managing late stage
clinical development programs. INC Research employs 2,000 people in 40
countries worldwide.

David Burgstahler, Partner and President of Avista Capital Partners,
said, “Avista and our partners at Teachers’ Private Capital are
delighted to add INC Research to our respective healthcare portfolios.
INC Research has an excellent reputation amongst its premier customer
base for quality service and therapeutic expertise, and is well
positioned to continue to expand its global footprint and capabilities
as a leading contract research organization. We look forward to
partnering with the existing management team to support INC Research’s
next phase of accelerated growth.”

“We are enthusiastic to partner with James Ogle, CEO of INC Research,
and his talented management team, who have a strong track record of
success,” added Neil Petroff, Teachers’ Executive Vice-President And
Chief Investment Officer. “Under Mr. Ogle’s leadership, we are confident
INC Research will continue to capitalize on favorable trends in the
clinical development outsourcing market and utilize its global reach to
enhance its market share.”

“This is an exciting time for INC Research, and we are thrilled to be
partnering with Avista Capital Partners and Teachers’ Private Capital as
we embark on the next phase of the Company’s development,” said Mr.
Ogle. “Avista Capital Partners and Teachers’ Private Capital are
well-regarded investors in healthcare, and we look forward to
benefitting from their extensive industry knowledge and experience. We
feel confident that these investment partners will enhance the
longstanding support our company has offered to help customers bring
drugs to market and improve world health.”

The transaction is expected to close in the fourth quarter of 2010,
subject to the satisfaction of customary closing conditions and
regulatory approvals.

About INC Research®, Inc.

INC Research is a therapeutically focused contract research organization
with a high performance reputation for conducting global clinical
development programs of the highest integrity. Pharmaceutical and
biotechnology companies look to INC Research for a complete range of
customized Phase I through Phase IV programs in therapeutic areas of
specialty, and in innovative pediatric and women’s health trials. INC
Research’s Trusted
Process® methodology and therapeutic foresight leads its customers
to more confident, better-informed drug and device development decisions.

About Avista Capital Partners

Avista Capital Partners is a leading private equity firm with offices in
New York, Houston, and London. Founded in 2005, Avista's strategy is to
make controlling or influential minority investments primarily in
growth-oriented healthcare, energy, and media companies. Through its
team of seasoned investment professionals and industry experts, Avista
seeks to partner with exceptional management teams to invest in and add
value to well-positioned businesses. For more information visit www.avistacap.com.

About Teachers’ Private Capital

Teachers’ Private Capital is one of the world’s largest private equity
investors. It is the private investment department of the Ontario
Teachers’ Pension Plan. With $96.4 billion in assets as of December 31,
2009, the Ontario Teachers’ Pension Plan is the largest
single-profession pension plan in Canada. It is an independent
corporation responsible for investing the fund and administering the
pensions of Ontario’s 289,000 active and retired teachers. For more
information visit www.otpp.com.